Citizens Financial Group Inc. RI Invests $5.90 Million in The Boeing Company $BA

Citizens Financial Group Inc. RI purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,263 shares of the aircraft producer’s stock, valued at approximately $5,902,000.

A number of other hedge funds have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in Boeing during the third quarter worth about $25,000. Strive Financial Group LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Boeing in the 4th quarter valued at approximately $26,000. CrossGen Wealth LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $26,000. Finally, Strategic Wealth Advisors LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Insider Activity at Boeing

In other news, Director Bradley D. Tilden acquired 1,370 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director owned 1,370 shares of the company’s stock, valued at $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Btg Pactual set a $260.00 price objective on Boeing in a report on Tuesday, July 14th. Wolfe Research cut Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 11th. William Blair reaffirmed an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada lowered their price target on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.58.

Boeing Stock Performance

Shares of BA stock opened at $226.48 on Tuesday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. The firm has a market cap of $179.00 billion, a P/E ratio of 98.04 and a beta of 1.21. The firm’s 50 day moving average price is $221.91 and its 200-day moving average price is $222.66. The Boeing Company has a one year low of $176.77 and a one year high of $254.35.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.24) EPS. As a group, equities research analysts predict that The Boeing Company will post -0.87 EPS for the current year.

About Boeing

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.